Tifosi
7th February 2010, 14:04
http://m.guardian.co.uk/?id=102202&story=http://www.guardian.co.uk/business/2010/feb/04/shell-axe-1000-jobs
Royal Dutch Shell announces it will cut another 1,000 jobs this year after reporting a 69% slide in annual profits to $9.8bn
Royal Dutch Shell today said it would cut another 1,000 jobs this year after reporting a 69% slide in annual profits to $9.8bn (£6.1bn).
The Anglo-Dutch firm also reported a steep drop in fourth quarter earnings – down 75% to $1.18bn – after pressure on margins in refining offset a year-on-year increase in oil prices.
Shell has cut 5,000 jobs in the past year and said it will remove another 1,000 in 2010 – mainly in downstream and corporate functions – to make it more competitive against rivals such as BP.
On Tuesday BP reported a 45% fall in profits for 2009, to $14bn, figures which fell short of City expectations.
The results echoed news on Monday from ExxonMobil, the world's largest publicly traded oil company, that profits slumped to $19bn in 2009 from $45bn as it too battled against declining margins at its refineries and weaker demand for fuel in recession-battered economies.
Royal Dutch Shell announces it will cut another 1,000 jobs this year after reporting a 69% slide in annual profits to $9.8bn
Royal Dutch Shell today said it would cut another 1,000 jobs this year after reporting a 69% slide in annual profits to $9.8bn (£6.1bn).
The Anglo-Dutch firm also reported a steep drop in fourth quarter earnings – down 75% to $1.18bn – after pressure on margins in refining offset a year-on-year increase in oil prices.
Shell has cut 5,000 jobs in the past year and said it will remove another 1,000 in 2010 – mainly in downstream and corporate functions – to make it more competitive against rivals such as BP.
On Tuesday BP reported a 45% fall in profits for 2009, to $14bn, figures which fell short of City expectations.
The results echoed news on Monday from ExxonMobil, the world's largest publicly traded oil company, that profits slumped to $19bn in 2009 from $45bn as it too battled against declining margins at its refineries and weaker demand for fuel in recession-battered economies.